Anyone retire a little early?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I am unexpectedly retiring in a couple of weeks (thanks DOGE!). Husband (57) also RIF'd, but not eligible for retirement. I was initially VERY worried about our financial future, so hired a financial advisor. He really put my mind at ease that we are fine to actually retire. Our NW is ~2.5M, not including ~850K equity in our home and 529 accounts with more than enough to cover the rest of college for our three kids.

The hard thing is wrapping my head around 1) not saving anymore; and 2) not working. I am going to try it out, but my husband decided to take another job. We'll see how the next year plays out and probably re-evaluate.

You might be able to save if you look at it differently. If your net worth is $2.5m and you take out 4% a year your net worth could continue to grow assuming markets grow 6-7%. Yes, that's just an assumption! That 2-3% difference can be viewed as savings. I'm sure people would argue that its not technically savings but my net worth is growing a lot every year and that keeps me sane. I'm not spending what my portfolio is earning so that's a type of savings.

This would largely depend on what the PP's expenses are. I'm sure you are aware that there are down market years. You'd have to take that into account. I would be hesitant to take any money out of the market during the down years, so you need some fixed income to dip into during such a time.

You could save some money in a MMA, for example, that you could dip into when the market goes down. Plus only the gain is taxable.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I am unexpectedly retiring in a couple of weeks (thanks DOGE!). Husband (57) also RIF'd, but not eligible for retirement. I was initially VERY worried about our financial future, so hired a financial advisor. He really put my mind at ease that we are fine to actually retire. Our NW is ~2.5M, not including ~850K equity in our home and 529 accounts with more than enough to cover the rest of college for our three kids.

The hard thing is wrapping my head around 1) not saving anymore; and 2) not working. I am going to try it out, but my husband decided to take another job. We'll see how the next year plays out and probably re-evaluate.

Uh oh. Que the weirdo who is going to tell you that you aren’t retiring. You’re a stay at home mom. 🙄

3,2,1….

I would love to know the difference between retiring and becoming a SAHP (or just not working if you don't have kids or independent kids)- serious question! In my parents' day, people were considered "retired" when they got pensions, health care, etc, but that largely doesn't exist anymore.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'm not retired yet but wonder if I could in about 5 years. I'm 49 now and have $960K in 401K, $195K in brokerage account. My SSN would be about $1500 a month if I work 5 more years. I also will have a small pension ( about $1000 a month). My spouse already receives SSN and pension in the amount of $3000 a month ( healthcare insurance is deducted from his government workplace). Our child will be heading to college in a few years and we have 4 semesters prepaid in 529. I wonder if I can retire in 5 years. We have no debt, house is paid off. We are pretty frugal. I'm so jealous of all retired people who have time and money and can travel anywhere they want. Can I retire too?

Yes of course you can.

I'd prefer to save up the rest of undergrad for my kid before I retired personally. Medical for the OP at age 55 will not be cheap for the 10 years until medicare. SO be sure to plan for that as well

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am unexpectedly retiring in a couple of weeks (thanks DOGE!). Husband (57) also RIF'd, but not eligible for retirement. I was initially VERY worried about our financial future, so hired a financial advisor. He really put my mind at ease that we are fine to actually retire. Our NW is ~2.5M, not including ~850K equity in our home and 529 accounts with more than enough to cover the rest of college for our three kids.

The hard thing is wrapping my head around 1) not saving anymore; and 2) not working. I am going to try it out, but my husband decided to take another job. We'll see how the next year plays out and probably re-evaluate.

Uh oh. Que the weirdo who is going to tell you that you aren’t retiring. You’re a stay at home mom. 🙄

3,2,1….

I would love to know the difference between retiring and becoming a SAHP (or just not working if you don't have kids or independent kids)- serious question! In my parents' day, people were considered "retired" when they got pensions, health care, etc, but that largely doesn't exist anymore.

The difference is that in the past most woman who stayed home with their kids — and, let’s face it, that was most women — were never considered “retired” even if they worked before having kids. Now women don’t want to admit that they’re staying home with kids so they say they’re retired. But they’re not.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am unexpectedly retiring in a couple of weeks (thanks DOGE!). Husband (57) also RIF'd, but not eligible for retirement. I was initially VERY worried about our financial future, so hired a financial advisor. He really put my mind at ease that we are fine to actually retire. Our NW is ~2.5M, not including ~850K equity in our home and 529 accounts with more than enough to cover the rest of college for our three kids.

The hard thing is wrapping my head around 1) not saving anymore; and 2) not working. I am going to try it out, but my husband decided to take another job. We'll see how the next year plays out and probably re-evaluate.

Uh oh. Que the weirdo who is going to tell you that you aren’t retiring. You’re a stay at home mom. 🙄

3,2,1….

I would love to know the difference between retiring and becoming a SAHP (or just not working if you don't have kids or independent kids)- serious question! In my parents' day, people were considered "retired" when they got pensions, health care, etc, but that largely doesn't exist anymore.

The difference is that in the past most woman who stayed home with their kids — and, let’s face it, that was most women — were never considered “retired” even if they worked before having kids. Now women don’t want to admit that they’re staying home with kids so they say they’re retired. But they’re not.

That was the past. Retired means you left your occupation and no longer work. Whether or not you have kids is irrelevant.

[Anonymous]

My husband retired at 30. Now at 50 he decided to do part time consulting but it's mostly something to keep him busy. He works with 4 clients.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am unexpectedly retiring in a couple of weeks (thanks DOGE!). Husband (57) also RIF'd, but not eligible for retirement. I was initially VERY worried about our financial future, so hired a financial advisor. He really put my mind at ease that we are fine to actually retire. Our NW is ~2.5M, not including ~850K equity in our home and 529 accounts with more than enough to cover the rest of college for our three kids.

The hard thing is wrapping my head around 1) not saving anymore; and 2) not working. I am going to try it out, but my husband decided to take another job. We'll see how the next year plays out and probably re-evaluate.

Uh oh. Que the weirdo who is going to tell you that you aren’t retiring. You’re a stay at home mom. 🙄

3,2,1….

I would love to know the difference between retiring and becoming a SAHP (or just not working if you don't have kids or independent kids)- serious question! In my parents' day, people were considered "retired" when they got pensions, health care, etc, but that largely doesn't exist anymore.

It's "cue the weirdo..." Please read a book.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am unexpectedly retiring in a couple of weeks (thanks DOGE!). Husband (57) also RIF'd, but not eligible for retirement. I was initially VERY worried about our financial future, so hired a financial advisor. He really put my mind at ease that we are fine to actually retire. Our NW is ~2.5M, not including ~850K equity in our home and 529 accounts with more than enough to cover the rest of college for our three kids.

The hard thing is wrapping my head around 1) not saving anymore; and 2) not working. I am going to try it out, but my husband decided to take another job. We'll see how the next year plays out and probably re-evaluate.

Uh oh. Que the weirdo who is going to tell you that you aren’t retiring. You’re a stay at home mom. 🙄

3,2,1….

I would love to know the difference between retiring and becoming a SAHP (or just not working if you don't have kids or independent kids)- serious question! In my parents' day, people were considered "retired" when they got pensions, health care, etc, but that largely doesn't exist anymore.

It's "cue the weirdo..." Please read a book.

You’re pedantic.

[Anonymous]

Anonymous wrote:My husband retired at 30. Now at 50 he decided to do part time consulting but it's mostly something to keep him busy. He works with 4 clients.

What is the field and how did he get back into after such a long break?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am unexpectedly retiring in a couple of weeks (thanks DOGE!). Husband (57) also RIF'd, but not eligible for retirement. I was initially VERY worried about our financial future, so hired a financial advisor. He really put my mind at ease that we are fine to actually retire. Our NW is ~2.5M, not including ~850K equity in our home and 529 accounts with more than enough to cover the rest of college for our three kids.

The hard thing is wrapping my head around 1) not saving anymore; and 2) not working. I am going to try it out, but my husband decided to take another job. We'll see how the next year plays out and probably re-evaluate.

Uh oh. Que the weirdo who is going to tell you that you aren’t retiring. You’re a stay at home mom. 🙄

3,2,1….

I would love to know the difference between retiring and becoming a SAHP (or just not working if you don't have kids or independent kids)- serious question! In my parents' day, people were considered "retired" when they got pensions, health care, etc, but that largely doesn't exist anymore.

The difference is that in the past most woman who stayed home with their kids — and, let’s face it, that was most women — were never considered “retired” even if they worked before having kids. Now women don’t want to admit that they’re staying home with kids so they say they’re retired. But they’re not.

That was the past. Retired means you left your occupation and no longer work. Whether or not you have kids is irrelevant.

Baloney. So anyone who has ever had a job in their life and now isn't working outside the home and staying home with kids is "retired?" Or do you have to have had an "occupation?'

If you're not working because you have kids at home you're a stay at home "working" parent. You're NOT retired.

[Anonymous]

Anonymous wrote:My husband retired at 30. Now at 50 he decided to do part time consulting but it's mostly something to keep him busy. He works with 4 clients.

Doing what? After sitting on his ass for 20 years who would possibly want to pay him to "consult?" He couldn't have been keeping up.

[Anonymous]

Anonymous wrote:I envy all the people with a pension. I would love to retire early, but I don't have enough savings (am 55 and we live a long time in my family, lots of late 90 folks, so I would need my savings to cover me for about 40-ish years). As it is I pray I can stay employed to 65. I have never been unemployed but have been in do-gooder roles so not paid a lot. I have $1.1mil in retirement accounts and about $400K in equity. House will be paid off in six years.

A pension has been so helpful to my mother who was widowed early. My father’s company officially retired him at 50 years old right before he died of cancer. Forty years later at 90 years old my mother still receives a monthly pension and paid health insurance. Their house was paid for. She was always a stay at home mother and is still at home thanks to a generous company. They are a rare thing now.

[Anonymous]

Paying off your house really might not be the achievement middle class people think it is. Better to have paid cash for it in the first place.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I am unexpectedly retiring in a couple of weeks (thanks DOGE!). Husband (57) also RIF'd, but not eligible for retirement. I was initially VERY worried about our financial future, so hired a financial advisor. He really put my mind at ease that we are fine to actually retire. Our NW is ~2.5M, not including ~850K equity in our home and 529 accounts with more than enough to cover the rest of college for our three kids.

The hard thing is wrapping my head around 1) not saving anymore; and 2) not working. I am going to try it out, but my husband decided to take another job. We'll see how the next year plays out and probably re-evaluate.

Uh oh. Que the weirdo who is going to tell you that you aren’t retiring. You’re a stay at home mom. 🙄

3,2,1….

Since the “c” and “q” keys are not near on the keyboard, I really hope you speak Spanish and your phone autocorrected the bolded. I hope no one thinks “cue” is spelled like that.

[Anonymous]

Thanks for clearing that up because no one had any idea what was meant in the original post. 🙄

Do you even recognize how useless your correction was? Who cares if autocorrected to something else on a casual forum.

You’re still pedantic.